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A recent survey by the PulteGroup revealed that the Millennial generation has a more optimistic outlook regarding the American economy than other generations. According to the study, 54 percent of Millennials believe the economy is in better shape today than last year, compared to only 41% of the total population.
This optimism impacts purchasing decisions as 74% of Millennials consider now an excellent or good time to buy what they want or need. Jim Zeumer, vice president of corporate communications for the PulteGroup, explained:
"No other cohort of adults is nearly as confident about their economic future as millennials. This is a change, as millennials have regularly been viewed as the disenfranchised generation vastly affected by the fallout of the recession. But now, with an increased sense of optimism, this generation is starting to feel that they have the resources available to lead the lives they want or expect in the future."
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WHAT ABOUT HOUSING?
When it came to Real Estate, the survey expressly indicated that:
- § 85% of Millennials plan to purchase a home in the future.
- § 49% plan to buy a home in the next two years
- § Of those planning to believe in the near term, 56% own homes, and 41% are renting
- § 65% prefer spending more money on a home that is move-in ready compared to doing renovations
- § 58% increased their interest in purchasing a home in the past year as the positive attributes of homeownership resonate with this generation.
